Monitor’s Top 100 SMEs survey to be national event

Kampala- Uganda Investment Authority (UIA) has said it is planning to make the Monitor Publications Limited’s annual survey of the Top 100-mid-sized-companies a national forum for entrepreneurs to share ideas.

Speaking at the 5th SME forum in Kampala recently, Mr Valentine Ogwang, the deputy director UIA, said the results from the five-year partnership between Monitor Publications and audit firm KPMG, show that the forum is a good platform for sensitising entrepreneurs about the challenges they face in their businesses.

He said it is now possible to identify 100 active companies at the shortest possible time and this has simplified the dissemination of information regarding the business environment because of the forum.

“We want to make this a regional programme so that SMEs can get to know available business opportunities. We shall be moving from region to region because this model works better than using Local Council 5 chairmen whose attrition rate is very high,” he said.

Financial literacy
Mr Ogwang also noted that through the forum, many small medium enterprises now know issues of finance, risks and more banks are now ready to give businesses money which has resulted in expansion of businesses.

According to Mr Peter Kyambadde, a senior manager at KPMG, the annual survey, now in its fifth consecutive year, has managed to help the surveyed companies to understand their weaknesses and improve in the areas they are lacking.

sotage@ug.nationmedia.com

SOURCE: Daily Monitor

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